For Sale, To Let R8,750 per m² - Industrial property, Light industrial, Sectional title unit, Warehouse, Workshop
Sectional Title Industrial Units For Sale in Origin Park, Milnerton, Cape Town
Origin Park is a new sectional title development of industrial units in Richmond Business Park in Milnerton.
Origin Park will be a mini-warehousing and distribution scheme.
Selling Price and Sizes
The units range in size from 355 m² to 976 per m². The selling price of the units is R8500 per m² Ex VAT
The units will also be available to rent.
Prospective industrial tenants, as well as sectional title investors and owner-occupiers, requiring smaller spaces, will be attracted to the business park.
Origin Park is a 13 000sqm development, with 25 units, ranging from 355sqm to 980sqm including the mezzanine floors.
The units can either be bought based on a sale of leasehold title, or leased from the developer, but we find that typically people who want these smaller spaces prefer to own their units.
It is much more cost effective owning a unit in sectional title scheme than owning a free-standing building.
The operating costs, such as security, landscaping, insurance and so on are shared by the owners.
Most of the owner-occupiers who have already purchased units are mostly warehouse-type users as the allowable office component is about 15% of the space. These are small-industry businesses.
Update on Richmond Park
Cape Fruit Coolers was the first tenant to sign up, shortly followed by Mustek and CTM. The Mustek building was first to get going and is due for completion in August this year – right now the structure is 90% completed and the roof is being installed. Bulk earthworks for Cape Fruit Coolers were completed last week and the site was handed over to the main contractor, Isipani Construction, on 11 May. CTM is also expected to commence with construction; they are awaiting plan approval from the local authority.
Planned retail centre
The development of the planned retail centre, Richmond Corner, will commence towards the last quarter of the year.